Andhra Pradesh and Kerala High Courts clarify that interest on delayed chit instalments is compensatory and not taxable under GST, leaving only the foreman commission liable.
Explore how GST reverse charge, multi-state registration, and cross-border royalties create compliance hurdles for related-party transactions, emphasizing proper documentation and reporting.
ITAT Ahmedabad upheld ₹59.9 lakh addition from demonetisation-period cash deposits and GP estimation, confirming the rejection of unverifiable books due to abnormal sales and fraudulent stock.
ITAT ruled that cash recorded in a partner’s name during survey cannot be taxed in his hands when the amounts relate to the firm’s land sales and are recorded in the firm’s books. The key takeaway: assess income in the correct entity.
ITAT held that the obligation to receive cash was rooted in an agreement executed before the 2015 amendment to Section 269SS. Since reasonable cause existed, penalty under Section 271D was not sustainable.
ITAT Ahmedabad ruled that detailed stock, sales, VAT, and bank records satisfactorily explained cash deposits of ₹2.07 crore, overturning additions made by AO and CIT(A).
ITAT Pune held that late filing of Form 10B cannot result in taxing the entire gross receipts; assessment must be made on net surplus after allowing expenses.
Recent amendments in GSTR-9 and GSTR-9C have increased compliance complexity, prompting calls for extended deadlines to allow accurate filing and reconciliation.
ITAT Pune sent back the issue of alleged bogus purchases for A.Y. 2017-18, directing AO to examine GST closure letters, transportation evidence, and other supporting documents to determine genuineness.
The tribunal held that absence of internet connectivity in a remote area was a valid reason for non-compliance and restored the registration application.
